Report Summary 1. Report Industry Investment Rating - There is no information about the report industry investment rating in the provided content. 2. Core View of the Report - The report regularly tracks the latest private exchangeable bond (Private EB) projects from public channels, including basic elements such as issuance scale, underlying stocks, and project status. It also reminds that private issuance terms and processes may change, and the final prospectus should be referred to. The issuance progress should be consulted with the relevant lead underwriters [1]. 3. Summary by Relevant Catalog Newly Added Project Information This Week - The 2026 private exchangeable corporate bond project of North Lingyun Industry Group Co., Ltd. for professional investors has been accepted by the exchange. The proposed issuance scale is 500 million yuan, the underlying stock is Lingyun Co., Ltd. (600480.SH), the lead underwriter is CITIC Construction Securities, and the exchange update date is December 30, 2025 [1]. Table of Private EB Weekly Tracking (2025 - 12 - 31) - Multiple private exchangeable bond projects have passed the review, including those of Nanshan Group Co., Ltd., Jiangsu Guotai International Group Co., Ltd., etc. Some projects are in the "feedback received" status, such as those of Shanxi Transportation Development Investment Group Co., Ltd., Fuda Holdings Group Co., Ltd., etc. And the North Lingyun Industry Group Co., Ltd. project is in the "accepted" status [2].

Group 1: Report Summary - The report regularly tracks the latest private exchangeable bond (private EB) projects from public channels, with the caveat that private issuance terms and processes may change, and the final prospectus should be referred to. For issuance progress, consult the relevant lead underwriters [1] Group 2: New Project Information This Week - Jiangsu Guotai International Group Co., Ltd.'s 2025 private placement of exchangeable corporate bonds for professional investors was approved by the exchange, with a proposed issuance size of 1.2 billion yuan (down from the previous plan), underlying stock Ruitai New Materials (301238.SZ), lead underwriter CITIC Securities, and exchange update date of December 8, 2025 [1] - Sichuan Jiuzhou Investment Holding Group Co., Ltd.'s 2025 private placement of science - innovation exchangeable corporate bonds for professional investors was approved by the exchange, with a proposed issuance size of 1 billion yuan, underlying stock Sichuan Jiuzhou (000801.SZ), lead underwriter CITIC Securities, and exchange update date of December 5, 2025 (exchange - related content updated this week) [1] - Oriens Technology Co., Ltd.'s 2025 private placement of exchangeable corporate bonds for professional investors was approved by the exchange, with a proposed issuance size of 350 million yuan (down from the previous plan), underlying stock Yongxin Co., Ltd. (002014.SZ), lead underwriter China Securities Co., Ltd., and exchange update date of December 5, 2025 (exchange - related content updated this week) [1] - Hainan农垦 Investment Holdings Group Co., Ltd.'s 2025 private placement of exchangeable corporate bonds for professional investors received feedback from the exchange, with a proposed issuance size of 2.1 billion yuan, underlying stock Hainan Rubber (601118.SH), lead underwriter CITIC Securities, and exchange update date of December 8, 2025 [1] Group 3: Private EB Project Tracking Table (2025 - 12 - 12) - Multiple private EB projects are listed in the table, including details such as the bond name, lead underwriter, issuance size, underlying stock, project status, and update date. For example, New Hope Group Co., Ltd.'s project has an issuance size of 4.5 billion yuan, underlying stock New Hope, and passed on November 27, 2025 [3]

1. Report's Industry Investment Rating - No information provided in the report 2. Report's Core View - The report regularly sorts out the latest information on private exchangeable bonds (private EBs) from public channels and tracks the basic elements of private exchangeable bond projects. It lists the new projects in the week from December 8 - 12, 2025 [1] 3. Summary by Related Catalog - **New Projects This Week** - Jiangsu Guotai International Group Co., Ltd.'s 2025 private placement of exchangeable corporate bonds for professional investors was approved by the exchange. The proposed issuance scale is 1.2 billion yuan (reduced from before), the underlying stock is Ruitai New Materials (301238.SZ), the lead - underwriter is CITIC Securities, and the exchange update date is December 8, 2025 [1] - Sichuan Jiuzhou Investment Holding Group Co., Ltd.'s 2025 private placement of science and technology innovation exchangeable corporate bonds for professional investors was approved by the exchange. The proposed issuance scale is 1 billion yuan, the underlying stock is Sichuan Jiuzhou (000801.SZ), the lead - underwriter is CITIC Securities, and the exchange update date is December 5, 2025 [1] - Oriens Technology Co., Ltd.'s 2025 private placement of exchangeable corporate bonds for professional investors was approved by the exchange. The proposed issuance scale is 350 million yuan (reduced from before), the underlying stock is Yongxin Co., Ltd. (002014.SZ), the lead - underwriter is CITIC Construction Securities, and the exchange update date is December 5, 2025 [1] - Hainan农垦 Investment Holding Group Co., Ltd.'s 2025 private placement of exchangeable corporate bonds for professional investors received feedback from the exchange. The proposed issuance scale is 2.1 billion yuan, the underlying stock is Hainan Rubber (601118.SH), the lead - underwriter is CITIC Securities, and the exchange update date is December 8, 2025 [1] - **List of Private EB Projects** - The report lists the status of multiple private EB projects, including bond names, lead - underwriters, scales, underlying stocks, project statuses, and update dates. For example, New Hope Group Co., Ltd.'s project has a scale of 4.5 billion yuan, and the underlying stock is New Hope; Jiangsu Shenghong Technology Co., Ltd.'s project has a scale of 3 billion yuan, and the underlying stock is Orient Shenghong [3]

Group 1: Report Summary - The report regularly tracks the latest private exchangeable bond (private EB) projects from public channels and provides basic element tracking. There were no new project information this week (20251201 - 20251205), and some projects were not listed due to compliance reasons. The final terms of private bond issuance should refer to the final prospectus, and the issuance progress should be consulted with the relevant lead underwriters. [1] Group 2: Project Status Table - The table lists 23 private EB projects, including details such as bond names, lead underwriters, scales, underlying stocks, project statuses, and update dates. Among them, 16 projects have passed, 6 projects have received feedback, and 1 project has been accepted. [2] Group 3: Related Research Reports - Lists several related research reports on the weekly tracking of private EBs from 20251027 to 20251128. [3]

Report Summary 1. Report Industry Investment Rating No industry investment rating is provided in the report. 2. Report's Core View The report regularly tracks the latest private exchangeable bond (Private EB) project information from public channels, including basic elements such as issuance scale, underlying stocks, and project status. It emphasizes that the issuance terms and processes may change, and the final prospectus should be referred to. The latest update shows that the private exchangeable bond project of Hangzhou Iron & Steel Group Co., Ltd. in 2025 has been approved by the exchange [1]. 3. Summary by Related Catalog - **New Project Information**: Last week (20251103 - 20251107), the private exchangeable bond project of Hangzhou Iron & Steel Group Co., Ltd. in 2025 was approved by the exchange, with a proposed issuance scale of 1 billion yuan, and the underlying stock is Hangzhou Steel Co., Ltd. (600126.SH), and the lead underwriter is Zheshang Securities. The exchange updated the information on November 7, 2025 [1]. - **Project Status Table**: The table lists the status of multiple private exchangeable bond projects, including approved projects such as those of Yingfeng Group Co., Ltd. and Guangdong Guangxin Holdings Group Co., Ltd., and projects in the feedback stage such as those of Guangdong Shengyi Technology Co., Ltd. and New Hope Group Co., Ltd., as well as an accepted project of Strait Innovation Internet Co., Ltd. [3]

Group 1: Report Core Information - Regularly sort out the latest private exchangeable bond (private EB) project information from public channels and track the basic elements of private exchangeable bond projects [1] - This week, there is no new project information [2] Group 2: Project List - Lists multiple private EB projects including bond names, lead underwriters, scales, underlying stocks, project statuses, and update dates [3] Group 3: Related Research Reports - Lists related research reports such as "Private Exchangeable Bond Tracking - Private EB Weekly Tracking (20250728 - 20250801)" [4]

Group 1: Report Industry Investment Rating - There is no information about the report industry investment rating in the provided content. Group 2: Report's Core View - The report regularly sorts out the latest information on private exchangeable bond (private EB) projects from public channels and conducts basic element tracking on private exchangeable bond projects. It also reminds that the private issuance terms and issuance process may be changed, and the final prospectus should be referred to. The issuance progress should be consulted with the relevant lead underwriters. There were no new project information this week [1][2]. Group 3: Summary by Related Catalog - **List of Private EB Projects**: The report lists multiple private EB projects, including details such as bond names, lead underwriters, scales, target stocks, project statuses, and update dates. Projects like "Beijing He Xie Heng Yuan Technology Co., Ltd. 2025 Private Placement Exchangeable Corporate Bonds for Professional Investors" have passed, while projects like "Fuda Holding Group Co., Ltd. 2025 Private Placement Exchangeable Corporate Bonds for Professional Investors" are in the "Feedback Received" status [3].

Report Summary 1. Report Industry Investment Rating - There is no information regarding the report's industry investment rating provided in the content. 2. Core Viewpoint of the Report - The report regularly summarizes the latest information on private exchangeable bond (Private EB) projects obtained from public channels and conducts basic element tracking on private exchangeable bond projects. It should be noted that the private issuance terms and the issuance process may be subject to change, and the final prospectus should be referred to. For the issuance progress, consultation with the relevant lead underwriters is recommended. This week, there is no new project information [1][2]. 3. Summary by Relevant Catalog 3.1 Private EB Project Tracking - **No New Projects This Week**: There is no new project information this week (some projects are not listed due to compliance reasons) [2]. - **List of Existing Projects**: The report lists multiple private EB projects, including details such as bond names, lead underwriters, scales, underlying stocks, project statuses, and update dates. Projects are in two statuses: "Passed" and "Feedback Received". For example, the "Beijing He Xie Heng Yuan Technology Co., Ltd. 2025 Private Placement Exchangeable Corporate Bonds for Professional Investors" with a scale of 6 and underlying stock of Sichuan Shuangma has passed, updated on July 18, 2025; the "Fuda Holding Group Co., Ltd. 2025 Private Placement Exchangeable Corporate Bonds for Professional Investors" with a scale of 12 and underlying stock of Fuda Co., Ltd. has received feedback, updated on July 11, 2025 [3].

Group 1: Report Overview - The report regularly tracks the latest private exchangeable bond (private EB) projects from public sources and provides basic element tracking [1] Group 2: New Project Information - Liaoning Chengda Co., Ltd.'s 2025 private placement of exchangeable corporate bonds for professional investors has received feedback from the exchange, with an intended issuance size of 5 billion yuan, underlying stock being GF Securities (000776.SZ), and the lead underwriter being CITIC Construction Securities. The exchange updated the information on June 16, 2025 [2] Group 3: Project Status Table - Lists various private EB projects, including bond names, lead underwriters, issuance sizes, underlying stocks, project statuses, and update dates. Projects are in different statuses such as "Passed" and "Feedback Received" [3] Group 4: Related Research Reports - Lists related research reports on private EB weekly tracking from different time periods [4]

Group 1: General Information - The report regularly combs the latest private exchangeable bond (private EB) project information available from public channels and tracks the basic elements of private exchangeable bond projects. The issuance terms and process may change, and the final prospectus should prevail. The issuance progress should be consulted with the relevant lead underwriters [1] Group 2: New Project Information This Week - Wanze Group Co., Ltd.'s private offering of exchangeable corporate bonds in 2025 to professional investors has received feedback from the exchange. The proposed issuance scale is 500 million yuan, the underlying stock is Wanze Co., Ltd. (000534.SZ), the lead underwriter is Hongta Securities, and the exchange update date is April 10, 2025 [2] - Guangdong Shunde Holdings Group Co., Ltd.'s private offering of exchangeable corporate bonds in 2025 to professional investors has received feedback from the exchange. The proposed issuance scale is 2 billion yuan, the underlying stock is Shunkong Development Co., Ltd. (003039.SZ), the lead underwriter is GF Securities, and the exchange update date is April 6, 2025 [2] Group 3: Private EB Weekly Tracking Table - The table shows the details of multiple private EB projects, including bond names, lead underwriters, scales, underlying stocks, project statuses, and update dates. Projects are in different statuses such as "Passed", "Feedback Received", and "Accepted" [3]